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Re-calculating Higher Education’s Pay-off
Academic Inflation:
• In the 1970s, about 1 in 20 people in the old industrialized economies went to college. The current target is one in three, rising to one in two. (Source: Out of Our Minds)
• According to UNESCO, the number of people gaining formal educational qualifications in the next 30 years will exceed the gross total since the beginning of history. (Source: Out of Our Minds)
• According to author, Seth Godin, it isn’t enough to have a college degree today – you must be remarkable!
Percentage of four year college graduates leaving with debt:
• 25%• 47%• 66%• 100%
ANSWER: 66%(Source: In the Basement of the Ivory Tower)
• 25%• 47%• 66%• 100%
Average college student’s debt upon graduation:• Two goats and a cow• $5,000 +• $14,000 +• $20,000 +
ANSWER: $20,000 or more (Source: In the Basement of the Ivory Tower)
• Two goats and a cow• $5,000 +• $14,000 +• $20,000 +
NOTE:
In June of last year the Federal Reserve released new figures showing that the nation's total student loan debt now sits at about $830 billion - for the first time surpassing the nation's credit card debt.
Forty seven million new jobs are projected to be created in the United States by 2018. How many will require a bachelor’s degree?
• One third• One half• Three quarters• All
ANSWER: Only a third of those will require a bachelor's degree or higher.(Source: Pathways to Prosperity report.)
• One third• One half• Three quarters• All